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Javier Feliciano, Executive Vice President and Chief People Officer at Meritage Homes Corp (NYSE:MTH), recently sold shares valued at $350,408. The stock sales, which occurred on March 3, involved a total of 4,862 shares. These transactions were executed at prices ranging from $72.04 to $72.54 per share. The sales come as the $5.16 billion homebuilder trades near its 52-week low of $70.28, having declined 25% over the past six months. According to InvestingPro analysis, the stock appears undervalued at its current P/E ratio of 6.68.
Earlier, on February 28, Feliciano acquired 7,074 shares of Meritage Homes stock through the vesting of performance-based restricted stock units, which were obtained at no cost. Following these transactions, Feliciano holds 36,278 shares directly, along with 17,088 restricted stock units that are yet to vest. For deeper insights into MTH’s valuation and 12 additional exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis in our detailed Pro Research Report.
In other recent news, Meritage Corporation reported its fourth-quarter 2024 financial results, surpassing earnings expectations with an earnings per share (EPS) of $4.72, significantly higher than the projected $2.28. The company’s revenue for the quarter was $1.6 billion, slightly above the expected $1.57 billion. Despite the earnings beat, Meritage’s stock experienced a decline during trading. In another development, the homebuilding sector, including companies like Meritage, is facing challenges due to the U.S. imposing a 25% tariff on Canadian lumber imports. This tariff is anticipated to increase costs for homebuilders, who rely heavily on Canadian lumber, potentially affecting profitability. Investors are closely watching how homebuilders like Meritage will manage the increased costs. Additionally, Meritage has expanded into new markets, including Huntsville, Alabama, reflecting its strategic growth initiatives. The company maintains its status as a top 5 builder, emphasizing its focus on affordable, move-in ready homes.
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